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[Sknatk  Bill  jNo.  151.] 

SENATE,  December  H),  1863.— Read  first  and  eecond  times, 
referred  to  the  Committee  on  Finance,  and  ordered  to  be  printed. 
December  11,  1863. — One  handred  additional  copies  ordered  to  be 
printed. 

[Mr.  Phflan.  by  leave  j 


A     BILL 

To  be  entitled  An  Act  authorizing  the  issue  of  certain  bonds  of  th« 
Confederate  ^^'tates,  and  making  the  coupons  attached  to  the  same  a 
legal  tender  in  the  payment  of  debta. 

1  Section  1 .     The  Congress  of  the   Confederate  States  of  America 

2  do  enact,  Thtit  the  Secretary  of  the  Treasury  is  hereby  required 
S     to  issue,  as  isoon  as  practicable,  five  hundred  millions  of  coupon 

4  bonds  of  the  Confederate  States,  in  sums  of  not  less  than  five 

5  hundred    dollars,    pay:ible    in    twenty    years,    and   bearing    an 

6  interest  of  six  per  cent,  per  annum,  payable  semi-annually. 

I  Seg.  2.  Be  it  further  enacted,  That  depositories,  for  the  sale  of 

3  said  bonds,  shall   be  established    at  all  the    principal  cities  and 

3  towns  in  the  different  States,  and  the  same   shall  bo  sold   at  tho 

4  highest  price — not  less  than   their  par   value — for  tho  treasury 

5  notes  of  the  Confederate  States,  under  rules  and  regulations  to 

6  be  prescribed  by  the  Secretary  of  the  Treasury. 


t 

1  Skc.  :i.     lie  it  Jurtlm    enacted.    That  the  coupons,  attached   to 

2  said  bondp.    whou  due.   slinll  be  a    legal  tender,  in    payment,  iu 

3  wlnde  or  in  pnvt,  of  ;ill  debts,  obligations,  contracts  or  judgments, 

4  payable  in  dollar^?,  «»v  oilirr  ile°cription  of  money;   and  a  refusal 

5  on  the  |tnrt  of  the  owuej-  of  any  such  indebtedness,  or  his  or  her 

6  authorized  agent,  to  accept  said  coupons,   in  payment,  in   whole 

7  or  in  part,  of  bis  or  her  said  claim,  shall  amount  to  a  discharge, 

8  in  whole  or  in  part,  of  any  such  claim,  as  the  case  may  be;  and 

9  such  tender  and  refusal  may  be  pleaded  in  bar  of  a  recovery  for 

10  the  amount  so   tendered    and   refused;     or  furnish    cause  for  a 

11  perpetual  injunction  in  any  proceeding   to  enforce  said  claim  in 

12  any  court  of  the  respective  States,  or  of  the  Confederate  States. 

1  Sec;.  4.    Be  it  further  enacted,  That  the  fact,  that  said  coupons 

2  aif  a  Vgal  tender  in  payment  of  debts,   and  that  a  refusal  to 

3  accept  the  t;ame,  amouuis  to  a  discharge  of  the  indebtedness,  in 

4  payment  of  which,  they  were  tendered,  shall  be  distinctly  stated 

5  on  the  face  of  said  coupons. 

1  Slc.    o.     Be   it  further   enacted.    That   said   coupons    shall  be 

2  receivable  in  payment  of  dl  public  dues,  except  the  export  dues 

3  on  cotton,  and  the  same  may  be  funded  in  bonds  of  the  Confede- 

4  rate  States,  payable  in  twenty  years,  bearing  an  interest  of  six 

5  per  cent,  per  annum,  payable  semi-annually. 


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